November 2021

SALE OF PERSONAL RESIDENCE AFTER DEATH

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Can an estate claim a loss for tax purposes if the estate sells the property for less than what it was valued for at time of death? Hard to imagine such circumstances in this current real estate environment but in the unlikely event it does occur, what are the rules?The Income Tax Act (“ITA”) deems a person to have disposed of their principal residence for proceeds equal to its fair….

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Canada Revenue Agency, Cottage, Estate Administration, Estate Planning, Executors, Investments, Property, Real Estate, Tax Issues, Uncategorized

Happy Monday

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Yesterday was the first night of Chanukah and it was welcomed along with the first real, ground covering snow fall. Today the sun is shining and I am hopeful that all of the lovely white stuff, that is no longer white today, will melt away. I baked holiday cookies yesterday and had a wonderful family dinner eating too many latkes. For many of us, traditions are a good thing; they….

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Elder Care

Software Applications as Aids to the Estates Advisor

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Software Applications as Aids to the Estates Advisor For all of us advisors, there are likely certain types of software applications that we use for our day-to-day tasks: perhaps its Microsoft Outlook for sending emails, or a timekeeping software for recording dockets. And although these programs are leaps and bounds beyond what our advisor ancestors could have imagined for themselves a hundred years ago, as we head deeper into the….

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Estate Administration, Estate Administration and Probate Applications, Estate Planning, Executors, Fiduciary Professions, Passing Of Trustees’ and Executors’ Accounts, Trustee, Wills

Things Left Behind

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This blog was written by Suzanne Singh For several years our company had been “D’s” appointed attorney under her POA.  Up until her late-eighties D was independent and occasionally took a bus downtown to drop by our office to invite me for coffee; she would share stories of her youth in rural Ontario and her adventures as a young married woman in post-WWII era Winnipeg. She was charismatic and engaging….

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Uncategorized

Please Pass the Turkey

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Now that border crossings have opened, many families will be traveling this week for the American Thanksgiving holiday. If you live in a different city than your parents, the time spent together during the holiday can allow you to see how well they are managing. Be aware of the small things and things that are different. For example, are you noticing weight loss, balance issues, is Mom now finishing Dad’s….

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Caregiving

Think about your Estate Plan before you travel…

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Today’s blog was written by Courtney Lanthier, Law Clerk at Fasken LLP With winter sneaking up on us (rather quickly, I might add) and the travel bans slowly being lifted, we’re bound to get an influx of calls and e-mails from clients wanting to update their estate plans or check in to make sure everything is as it should be. If you find yourself in this situation, here are a….

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Estate Planning, Uncategorized
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